Can I count corporate debt. Accounts recievable, lines of credit? I am personally responsible liable for most of it. Please?
I have a number of credit cards and use them. My credit is excellent which got me a brand new car for 0% interest for the life of the loan. Credit card companies have jacked up my limit and given me blank checks with no fees and an interest rate lower than an ING Direct savings account. I use those checks to transfer high interest debt which has saved a rediculous amount of money. Everything is on track to be paid off by next summer except for student loans and of course the new car. It could be paid off faster but most of it is 0%. Once all the credit card debt is gone, if a credit card company sends me a 0% check you can bet I'll be writting out thousands to myself and depositing it to make money. Credit cards are a game but you need to use them to build up your credit. If nothing else just pay your usual monthly bills like gas and groceries using your credit card and then pay it off right away. Otherwise you're going to have trouble getting great deals on things like a house and cars. I've found that what gets my limit up fast is charging a lot to the card and then paying it off in huge chunks. You just have to be careful not to spend more than you can afford and to not pay interest by paying off the card every month especially when you're new and have a 20-30% rate. As you progress the interest rates will get better and your limit will go up. When you're young resposible debt is a good thing. As you get older it's time to get rid of all debts.
whenever you use credit card, doesn't that become a debt? People with no debt = only using debit card? or can't get it, because their credit is low? I pay my credit card bill 100% every month.. does this count as a debt?
Normally you wouldn't count credit cards as debt if you have the money to pay it at the end of the month....it'd be a debt if you didn't have the money to pay it when you're expected to pay it (fully every month)...that's what i thought when I replied
None. Nada. Zilch. I use several credit cards such as Visa/Discover. I earn interest on my money each month sitting in the bank as well as earn cash back from the credit card companies when I pay off the balance due every month. I also like to use their money for an entire month and have them pay me to do it. Last year over $1300 in earned in cash back bonuses. It also makes your credit score increase as well.
I don't have a credit card....They keep rejecting me even though I've a 40k income..which i have no idea why...but i don't really need one so i didn't call and ask them
If you're getting rejected it's because you have no credit at all. You need to apply for a credit card from Capital One. They tend to give cards to anyone. You're going to get a high interest rate and a low limit but you need to use it and work your way up. If you can't even get a credit card you'll never qualify for a home loan or a car loan. You should start building your credit as soon as you can.
I believe that people who have debt are Stupid. If you cannot manage your money and needs then i would surely call you stupid.
So you only pay cash for cars, houses anything like that? If you are in debt, it doesn't necessarily mean you cant manage your money...